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Compressor Wheel Market Projected to Reach $4,334.6 Million by 2030

09-20-2021 09:21 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Compressor Wheel Market

Compressor Wheel Market

A turbocharger consists of a compressor wheel and exhaust gas turbine wheel coupled together by a solid shaft which is used to boost the intake air pressure of an internal combustion engine. Compressor wheels are manufactured by using material such as cast iron and aluminum. Compressor wheels are installed in turbochargers that are further installed in automotive and stationary engines in automobiles and manufacturing industries.

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The compressor wheel market size was valued at $2.7 billion in 2020, and is expected to reach $4.3 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.

Enforcement of stringent regulations rules for emission across the globe is prompting vehicle manufacturers to develop and manufacture lightweight engines, which will help to increase the fuel efficiency of the vehicle. This drives the compressor wheel market trend around the world. In addition, rise in demand for high power vehicles led to manufacturing of high powered turbochargers, which helps automobile engines to generate high-power output that results in high-torque generation for the vehicle and improved efficiency of engine. These are factors are anticipated to propel the compressor wheel market growth.

Top 10 Leading Players

BorgWarner Inc.
Doncasters Group
Garrett Motion Inc.
KTS
Melett Ltd.
Nelcon Motor Company
Owen Developments
Turbotech Precision Products Ltd.
UACJ Corporation
Wabtec Corporation

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Key Market Segments

By Material

Cast Iron
Aluminum

By Application

Automotive Engine
Stationary Engine

By Sales Type

OEMs
Aftermarket

By Region

North America
Europe
Asia-Pacific
LAMEA

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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